10th Jun 2015 09:10
LONDON (Alliance News) - Renewable Energy Generation Ltd said Wednesday that it has agreed a deal with wind turbine manufacturer Gamesa Eólica SL for Gamesa to supply nineteen wind turbines for five of Renewable Energy's UK onshore wind farm sites.
The sites have a combined capacity of 38 megawatts and once commissioned will more than double Renewable Energy's total wind power capacity, it said.
Under the agreement Gamesa will manufacture, erect and commission the turbines, as well as providing long-term service and maintenance of the machines.
"As REG already has significant asset-backing with long term visible revenue streams, the Company is in an excellent position to capture the value created by our pipeline of projects for our existing shareholders. I look forward to providing further updates on our progress," said Chief Executive Officer Andrew Whalley in a statement.
Shares in Renewable Energy are trading down 0.4% at 57.17 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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